The case pertains to the corporate insolvency resolution process (CIRP) initiated against Sky Blue Papers Pvt. Ltd. The petition was admitted on 07.04.2017, and a moratorium was declared under Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016. Jalesh Kumar Grover was initially appointed as the Interim Resolution Professional and later as the Resolution Professional. Punjab National Bank (PNB) filed CA No.151/2017 under Section 27 of the Code for the replacement of the Resolution Professional. Prem Kumar Garg was appointed as Resolution Professional on 27.09.2017. CA No.154/2017 was filed for seeking an extension of time for completion of the CIRP. Ashwani Soni, a promoter director of the corporate debtor, submitted a resolution plan which was considered but
…Sky Blue Papers Pvt. Ltd. underwent a corporate insolvency resolution process (CIRP) initiated under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 07.04.2017, leading to a moratorium under Section 14 of the Code. Jalesh Kumar Grover was initially appointed as the Interim Resolution Professional and later as the Resolution Professional. Punjab National Bank (PNB) sought the replacement of the Resolution Professional, leading to the appointment of Prem Kumar Garg. An extension of time for CIRP completion was sought. Ashwani Soni, a promoter director, submitted a resolution plan, which was rejected by the Committee of Creditors (COC). Soni also challenged the IBC (Amendment) Ordinance 2017 in the High Court. The COC, with PNB
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The petition for corporate insolvency…
First meeting of the…
The case pertains to the corporate insolvency resolution process (CIRP) initiated against Sky Blue Papers Pvt. Ltd. The petition was admitted on 07.04.2017, and a moratorium was declared under Section 14 of the Insolvency and Bankruptcy Code (IBC), 2016. Jalesh Kumar Grover was initially appointed as the Interim Resolution Professional and later as the Resolution Professional. Punjab National Bank (PNB) filed CA No.151/2017 under Section 27 of the Code for the replacement of the Resolution Professional. Prem Kumar Garg was appointed as Resolution Professional on 27.09.2017. CA No.154/2017 was filed for seeking an extension of time for completion of the CIRP. Ashwani Soni, a promoter director of the corporate debtor, submitted a resolution plan which was considered but
…Sky Blue Papers Pvt. Ltd. underwent a corporate insolvency resolution process (CIRP) initiated under Section 10 of the Insolvency and Bankruptcy Code (IBC), 2016. The petition was admitted on 07.04.2017, leading to a moratorium under Section 14 of the Code. Jalesh Kumar Grover was initially appointed as the Interim Resolution Professional and later as the Resolution Professional. Punjab National Bank (PNB) sought the replacement of the Resolution Professional, leading to the appointment of Prem Kumar Garg. An extension of time for CIRP completion was sought. Ashwani Soni, a promoter director, submitted a resolution plan, which was rejected by the Committee of Creditors (COC). Soni also challenged the IBC (Amendment) Ordinance 2017 in the High Court. The COC, with PNB
…The petition for corporate insolvency…
First meeting of the…